Outset Medical (NASDAQ:OM) Shares Gap Down - What's Next?

Outset Medical, Inc. (NASDAQ:OM - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $8.28, but opened at $7.85. Outset Medical shares last traded at $10.40, with a volume of 76,206 shares traded.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada reissued a "sector perform" rating and issued a $45.00 price target on shares of Outset Medical in a research note on Tuesday, January 7th.

Outset Medical Stock Performance

The stock's 50 day moving average price is $11.38 and its 200 day moving average price is $11.82. The company has a market capitalization of $544.36 million, a P/E ratio of -4.07 and a beta of 2.01. The company has a debt-to-equity ratio of 4.12, a quick ratio of 5.04 and a current ratio of 6.49.

Outset Medical (NASDAQ:OM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported ($6.90) earnings per share for the quarter, missing the consensus estimate of ($6.30) by ($0.60). Outset Medical had a negative return on equity of 175.64% and a negative net margin of 112.57%. The business had revenue of $29.47 million during the quarter, compared to the consensus estimate of $28.47 million. As a group, equities analysts expect that Outset Medical, Inc. will post -1.99 EPS for the current year.

Remove Ads

Insider Activity

In related news, CEO Leslie Trigg sold 4,349 shares of the business's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $12.00, for a total value of $52,188.00. Following the completion of the sale, the chief executive officer now directly owns 59,705 shares of the company's stock, valued at $716,460. The trade was a 6.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel John L. Brottem sold 2,195 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $12.00, for a total value of $26,340.00. Following the completion of the transaction, the general counsel now owns 12,079 shares in the company, valued at approximately $144,948. The trade was a 15.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,511 shares of company stock worth $244,623 in the last quarter. 4.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. National Bank of Canada FI grew its holdings in shares of Outset Medical by 79.2% during the third quarter. National Bank of Canada FI now owns 52,407 shares of the company's stock valued at $35,000 after buying an additional 23,164 shares during the last quarter. Renaissance Technologies LLC lifted its position in Outset Medical by 1,167.7% in the 4th quarter. Renaissance Technologies LLC now owns 686,748 shares of the company's stock valued at $762,000 after acquiring an additional 632,574 shares in the last quarter. XTX Topco Ltd acquired a new position in Outset Medical during the 4th quarter valued at about $50,000. Two Sigma Securities LLC lifted its holdings in shares of Outset Medical by 190.0% in the fourth quarter. Two Sigma Securities LLC now owns 42,477 shares of the company's stock valued at $47,000 after purchasing an additional 27,830 shares in the last quarter. Finally, Birchview Capital LP lifted its holdings in shares of Outset Medical by 3,587.7% in the fourth quarter. Birchview Capital LP now owns 368,766 shares of the company's stock valued at $409,000 after purchasing an additional 358,766 shares in the last quarter.

About Outset Medical

Outset Medical, Inc, a medical technology company, engages in the development of a hemodialysis system for hemodialysis in the United States. The company offers Tablo Hemodialysis System, a compact console with integrated water purification, on-demand dialysate production, and software and connectivity capabilities for dialysis care in acute and home settings; and manufactures, supports, and distributes for Tablo console, Tablo cartridge, and other consumables.